People are ditching their large homes and opting for tiny house living. There’s something freeing about not having so many possessions and a smaller space to maintain. Tiny houses can be mobile, like an RV, or stationary, like a traditional home. Either way, it’s a ticket to financial freedom that many need. However, before you decide to go smaller, here are some things you need to know about these tiny homes.

Size Matters

The home must be 600 square feet or less to be considered a tiny house. While some people like to see how much they can cram into under 200 square feet, you can build a little bigger and still fit within the small qualifications. There’s no need to cramp yourself too much, as you need places to store things and ample room to move around.

While you may think of everything you can give up to make it work, you still have needs to consider. Some people can’t do the loft bedrooms, but you can make a full-size bedroom downstairs. Just remember that size matters, and you need to make sure the home is livable for you.

You Can Finance Them

There are many resources to help you build a tiny house online, but you need money to make these dreams a reality. You can get a loan if you don’t have the funds readily available. Now, you should know that lending is slightly different on these structures, as you won’t get a traditional 30-year mortgage.

Since a tiny home is usually mobile, a lender will finance it like an RV. Not all lenders will offer such financing, so you need to do some research to find those who offer these packages. Just note that the payoff times are shorter, the interest rates are higher, and you’ll need an exceptional FICO score.

Little Homes Maximize Space

The minimalist lifestyle is not for everyone. You need creativity to build these tiny homes. The key is to build up since you can’t build out, as you must utilize precious wall space. You must think outside the box to accommodate your storage needs.

Within a tiny home, it’s common to see stairs that have drawers underneath or tables that fold away neatly and become part of the wall. You learn that every square foot of your home is valuable, so you envision ways to store your stuff in ways you wouldn’t dream of in a traditional home. Learn to embrace open shelving, floor storage, and furniture that opens for additional cargo space.

They Aren’t Welcomed in Every State

While the tiny house movement is growing, some states aren’t as eager to welcome these mini mobiles. You’re in luck if you live in places like Florida, California, Arizona, or Utah. These states have developed tiny home communities that make it easy to hook up to a water and sewage system.

Even if your state does allow them, there are still some caveats to consider. Various cities and municipalities have regulations, so you must ensure it will be legal to park there. You should note that no state has made these tiny homes “illegal,” but some states are more tiny home friendly than others.

Small Doesn’t Always Mean Cheap

Most people assume they can build a space for a small amount of money. You can create one of these mobile homes for less, but it will still come with significant costs. There are considerations like the fluctuating price of lumber, plumbing, electrical, roofing, and other materials.

Even if you use recycled items, you must consider the vast labor expenses. You can easily spend $50k on a small home to make it livable. It will be more economical if you do the work yourself if you have the time and abilities.

Conclusion

Are you ready for tiny house living? You must note that it’s not just about the home; living tiny is a style. You learn to live with less as people have so much baggage within their homes they don’t need. Some folks can’t go down to a house under 600 square feet, but many other people find it exhilarating to pare down and embrace the freedom of less.

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